ENGLEWOOD CLIFFS, NJ—Procida Funding & Advisors LLC has acquired two first mortgages totaling $4 million, secured by two properties in Northern New Jersey.
The first mortgage was secured by a development site in Hoboken, N.J., while the second was secured by a partially completed condominium project on River Road in North Bergen, N.J.
The Hoboken development site has been approved for the construction of 46 residential units, 1,435 sq. ft. of commercial space and parking.
The North Bergen site is currently 90 percent completed and includes eight units comprised of four two-bedroom units and four one-bedroom units.